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@@ -13,9 +13,7 @@
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| **PineScript** | [swings.pine](swings.pine) |
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- Swing High/Low detection identifies local price extremes using a configurable lookback window.
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- Parameterized by `lookback` (default 5).
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- Output range: Varies (see docs).
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- Requires 1 bar of warmup before first valid output (IsHot = true).
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- **Similar:** [Fractal](../../oscillators/fisher/Fisher.md), [ZigZag](../psar/Psar.md) | **Complementary:** Volume for confirmation | **Trading note:** Swing high/low detector; identifies pivots for support/resistance and chart pattern analysis.
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- Validated against TA-Lib, Skender, and Tulip reference implementations where available.
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Swing High/Low detection identifies local price extremes using a configurable lookback window. A Swing High marks a bar whose high strictly exceeds the highs of all bars within the lookback window on each side. A Swing Low marks a bar whose low is strictly less than all corresponding lows. The lookback parameter controls sensitivity: larger lookback windows require more confirmation and produce fewer, more significant signals. This generalizes Williams' fixed five-bar Fractals into a flexible structural analysis tool.
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@@ -187,4 +185,4 @@ Mathematical correctness is verified by confirming that every reported SwingHigh
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- Williams, B. M. (1995). *Trading Chaos: Applying Expert Techniques to Maximize Your Profits*. John Wiley and Sons.
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- Gann, W. D. (1935). *New Stock Trend Detector*. Financial Guardian Publishing.
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- TradingView PineScript Reference: [`ta.pivothigh()`](https://www.tradingview.com/pine-script-reference/v5/#fun_ta.pivothigh), [`ta.pivotlow()`](https://www.tradingview.com/pine-script-reference/v5/#fun_ta.pivotlow)
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- TradingView PineScript Reference: [`ta.pivothigh()`](https://www.tradingview.com/pine-script-reference/v5/#fun_ta.pivothigh), [`ta.pivotlow()`](https://www.tradingview.com/pine-script-reference/v5/#fun_ta.pivotlow)
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